Alphabet announced that Eric Schmidt will be stepping down from the position of Alphabet’s Executive Chairman. He will now be wearing the hat of technical advisor going forward. He’ll however continue to be a member of the board. The company will be be appointing a non-executive chairman in January.
Schmidt joined Google as CEO in 2001 and was appointed as the company’s executive chairman ten years later in 2011. In his time as the Executive Chairman the company was restructured as Alphabet — a parent company for Google and its sister products.
As reported by CNBC, Schmidt will advise the company’s urban development effort, Sidewalk Labs. Sidewalk Labs recently cracked a deal with Toronto city to turn 800 acres of the city into a connected utopia. Alphabet stated that the goal is to “reimagine cities from the internet up.”
After ten years as CEO and seven as Executive Chairman, I can’t wait to dive into the latest in science, technology, and philanthropy. I look forward to working with Larry and Sergey on our future here at Alphabet. https://t.co/nVnZqMEHoI
— Eric Schmidt (@ericschmidt) December 21, 2017